Bitcoin fell 3.4% to $95,110 after reaching a record high of more than $108,000 on December 17.
Bitcoin retreated for the first time in three days as traders began to reduce their exposure as this year’s record rally nears its end. Bloomberg reported this on Thursday, December 26.
Bitcoin fell 3.4% to $95,110 after reaching a record high of more than $108,000 on December 17.
The broader cryptocurrency index, which includes smaller tokens including Etherium, Solana and meme coin Dogecoin, fell about 3.5%.
MicroStrategy Inc. announced plans to expand its bitcoin purchase program. The company owns more than $40 billion in Bitcoin, making it the largest corporate owner of the exchange-traded cryptocurrency.
Bitcoin is up 130% this year, outperforming traditional assets like stocks and gold, but could be key to market trends in the coming days.
Recall that in early December, Bitcoin surpassed the $100,000 mark for the first time, setting its new all-time high since the cryptocurrency was launched more than ten years ago.
The price of Bitcoin rose sharply after the announcement of Donald Trump’s victory in the US presidential election. The cryptocurrency was trading at $69,000 on Election Day, but rose to $75,000 after Trump’s victory was confirmed.
The $100,000 breakout came hours after the announcement of key appointments in the new Trump administration, including Paul Atkins, a former Republican member of the SEC, to lead the regulator.
As you know, the team of the newly elected US President is considering the possibility of creating the first position in the history of the White House dedicated to cryptocurrency policy.
Trump promised to create more favorable rules for cryptocurrency, accumulate a strategic reserve of Bitcoin and make the United States the “crypto capital of the planet.”
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.